Coinbase Global, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $7.2B | $6.6B | $3.1B | $3.2B | $7.8B |
| Research and development | $1.7B | $1.5B | $1.3B | $2.3B | $1.3B |
| Operating expenses | $5.7B | $4.3B | $3.3B | $5.9B | $4.8B |
| Operating income | $1.4B | $2.3B | -$161.7M | -$2.7B | $3.1B |
| Interest expense | $85.4M | $80.6M | $82.8M | $88.9M | $29.2M |
| Pretax income | $1.5B | $2.9B | -$76.8M | -$3.1B | $3.0B |
| Income tax expense | $261.7M | $363.6M | -$171.7M | -$439.6M | -$597.2M |
| Net income | $1.3B | $2.6B | $94.9M | -$2.6B | $3.6B |
| Balance Sheet | |||||
| Cash and equivalents | $11.3B | $9.3B | $5.5B | $4.4B | $7.1B |
| Current assets | $20.4B | $18.1B | $11.4B | $86.4B | $18.4B |
| Total assets | $29.7B | $22.5B | $14.8B | $89.7B | $21.3B |
| Current liabilities | $8.7B | $7.9B | $5.5B | $80.8B | $11.4B |
| Total liabilities | $14.9B | $12.3B | $8.5B | $84.3B | $14.9B |
| Total debt | $7.3B | $4.3B | $3.0B | $3.4B | $3.4B |
| Stockholders' equity | $14.8B | $10.3B | $6.3B | $5.5B | $6.4B |
| Cash Flow Statement | |||||
| Cash from operations | $2.4B | $3.1B | $673.4M | -$1.6B | $4.0B |
| Depreciation and amortization | $188.4M | $127.5M | $139.6M | $154.1M | $63.7M |
| Stock-based compensation | $839.4M | $912.8M | $780.7M | $1.6B | $820.7M |
| Capital expenditure | — | — | — | $2.9M | $2.9M |
| Free cash flow | — | — | — | -$1.6B | $4.0B |
| Share repurchases | $790.2M | $0 | $0 | $0 | $0 |
| Impairments | — | — | $0 | $0 | $329.7M |
Shares outstanding 263.5M · Free float 70.8%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.